Over the past week, a few Turkish merchant bar re-rollers have cut their export offers by $10/mt on the lower end to $630-650/mt FOB, against the backdrop of the ongoing currency fluctuations and strong import scrap prices. Currently, official ex-Turkey equal angle offers are mostly standing at $630-650/mt FOB, for December-early January shipment. Most international buyers are exerting pressure for further discounts and negotiating for $630/mt FOB amid sluggish demand.
The SteelOrbis daily Turkish billet import reference price stands at $525-537/mt, versus $515-530/mt a week ago. Most buyers in the European Union are taking their time as regards new purchases ahead of the holiday season. Meanwhile, Chinese suppliers are also focusing on African buyers.
|
Product |
Price ($/mt) |
|
Angle |
630-650 |
|
IPN-UPN |
640-660 |
|
Flat bar |
660-680 |
|
IPE |
640-660 |
All prices are on FOB basis for December-early January shipments.